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Chinese Crude Imports: Upwards And Outwards

After China overtook the US as the world’s largest seaborne importer of crude oil in 2014, Chinese seaborne crude imports have continued to expand firmly, with imports in 2016 increasing by 16%. Whilst 2017 is expected to be another strong year of growth, albeit slightly slower than 2016, changes to China’s crude import patterns are [...]

By | November 4th, 2017|News|0 Comments

Havila Shipping Posts Reduced Third Quarter Operating Income

Havila Shipping ASA achieved an operating income before depreciation of NOK 39.0 million in Q3 2017, compared with NOK 112.6 million in Q3 2016. Total operating income was NOK 176.7 million in Q3 2017, compared with NOK 253.4 million in Q3 2016. The group had 25 vessels in operation as of 30/09/17. 23 vessels are [...]

By | November 4th, 2017|News|0 Comments

LNG shipping charter rates rise on firm spot demand, limited availability

Strong demand for LNG spot cargoes amid the limited availability of vessels is pushing up charter rates in both the Asia Pacific and Atlantic regions, providing a boost to the long depressed shipping market, market sources said this week. The Asia Pacific day rate was up almost 30% at $52,000/day Tuesday from $40,000/day in early [...]

By | November 4th, 2017|News|0 Comments

Asia Fuel Oil-380-cst premiums rise on higher deal value, crack discount widens

Cash premiums for Asia’s 380-cst high-sulphur fuel oil cargoes rose to a near one-month high on Friday amid higher deal values when compared to the previous session. Bids for 380-cst fuel oil cargoes were higher relative to Thursday in the Platts window but still failed to attract many suppliers, keeping traded volumes of physical fuel [...]

By | November 4th, 2017|News|0 Comments

Low Orderbook Bodes Well for Future of MR Product Tanker Market says Shipowner

The still historically low orderbook for MR product tankers is boosting the long-term prospects of the product tanker market, said shipowner Capital Product Partners during the past week. According to the company’s market review and outlook after the end of the third quarter, “the product tanker spot market modestly improved in the third quarter of [...]

By | November 4th, 2017|News|0 Comments

Dry Bulk FFA: Capesize Index is back in bullish territory, and will remain so above USD 20,427

Technically the index is back in bullish territory, and will remain so above USD 20,427. Although price action is the lead indicator there is a note of caution due to the bearish divergence forming with the stochastic on the weekly chart. Capesize Index Support – 20,427, 19,893, 17,929, 16,819, Resistance – 22,515, 22,450, 27,866 Weekly [...]

By | November 4th, 2017|News|0 Comments

Prices for dry bulk carriers on the rise

As more shipowners are piling into the market for secondhand vessels, prices were bound to quickly pick up steam. In its latest weekly report, shipbroker Intermodal said that “as it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Nonetheless, we witness [...]

By | November 3rd, 2017|News|0 Comments

LNG Shipping Markets Are Improving says GasLog

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, reported its financial results for the quarter ended September 30, 2017. Highlights · Completed the dropdown of the GasLog Geneva to GasLog Partners LP (“GasLog Partners” or the “Partnership”) for $211.0 million on July 3, 2017. · Announced [...]

By | November 3rd, 2017|News|0 Comments

Oil Traders Set Sights on Seas as Diesel Makes a Comeback

It was only two years ago that the world’s biggest oil market was awash with diesel and profits from making the fuel cratered. Now the refined product is getting a new lease of life, and more demand is poised to emerge from the sea. With crude’s bull market being underpinned by diesel consumption, Asian refiners [...]

By | November 3rd, 2017|News|0 Comments

Hound Point-East VLCC rates at 9-mo high on tight tonnage, arb demand

The cost of taking 270,000 mt crude oil cargoes from Hound Point, UK, to the Far East on VLCCs rose $300,000 Wednesday to reach a nine-month high of $5.4 million lumpsum, the highest since January 20, according to S&P Global Platts data. Glencore was heard to have paid $5.4 million for a Southwold-Far East voyage [...]

By | November 3rd, 2017|News|0 Comments

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